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Friday, 7 February 2014

Japan's Terra Motors to Tmpower Rs 45 cr in Growth by FY15-end

Japanese electric two and three-wheeler creator Terra Motors has
lined up a venture of Rs 45 crore for extending its operations and
setting an assembling plant by the finish next financial year.
Meanwhile, the company a month ago made blizzard into the Indian market with the launch of Rs 18 lakh electric superbike.
In the same incarnation, the company has currently revealed two more
items -e-bike A4000i and , e-rickshaw T4 at the Auto Expo here. The
items might be started in the Indian advertise soon, the organization
said.
He additionally said that they might put Rs30 crore in the Indian
advertise next financial year and we point for the 10,000 units of deals
for electric two wheelers by March 2015.

Although, the company is offering its models in Delhi and Bangalore at
present and will extend to different urban communities not long from
now.

"We plan to set up a factory in India at an investment of Rs 150 million
either at Hyderabad or Uttar Pradesh," Toru Tokushige, CEO &
Founder, Terra Motors said, adding up the company has until now decide
on the location of the facility.

He also said that they would invest Rs30 crore in the Indian market next
fiscal year and we aim for the 10,000 units of sales for electric two
wheelers by March 2015.

The company is selling its models in Delhi and Bangalore at present and will expand to other cities this year.

Talking about its commitment towards India, Tokushige said, "India is
the second largest producer of two-wheelers in the world. Hence it is
most important market for us."

Established in 2010, Terra Motors Corporation is the significant player
in electric two and three wheelers in Japan. It likewise has limb work
places in Vietnam and Philippines.